Verfication Process????

It is a scare tactic commonly used by Arrowhead...How much did yu borrow from them and how much have you paid back? Also, what state are you in? Oh wait i See it now...YOu took out 250(they are not liscensed in the state of Texas.) Let me go look at the laws and I will get back with you in just a minute

Thanks you are a life saver.....and how can I use the fact that they aren't liscensed in texas against them. Thanks for the help....I am new to the standing up against them process lol

One-rollovers are not permitted in your state so anything they have taken out should be applied to your principle
two-I am not exactly sure how to calculate based on you laws but my best guess is that you should have to pay back roughly $272 total(contact your state regarding this to be certain). You need to send them a letter revoking their authorization to 1-withdrawal money from your bank accoutn, 2-revoke and voluntary wage assignment you may have signed when getting the loan, and 3-state your laws to them firmly and clearly after verfifying how much they can legally charge you! Send this letter via mail, via certified mail returned receipt, fax and email. I hope this helps

I had a loan with arrowhead, I filed a complaint with my attorney generals office, arrowhead faxed me a paid in full letter and an agreement letter to drop my complaint. Tell them you are going to file a complaint with your state attorney generals office and pursue it. That should get their attention.

Leah - You are close to the correct amount, but they can add on a $10 max fee. So the legal total is actaully roughly $282. The laws say $10 fee + interest, so I would bet that they add the fee on, then calculate the interest on that total. I would also recommend checking with your state's banking dept to make sure these calculations are correct.

The lender has to abide by Texas Law and they have to be liscensed to lend in your state...Once you file a complaint with the AG and they company gets that then they will be more cooperative(PS-they cannot try to take you to court because they are not abiding by texas law nor are the liscensed to lend, that is your advantage!) They will threaten you will all sorts of things_IT IS ALL LIES! you will not go to jail over this!

Verification doesn't mean anything. They are just trying to scare you, like Leah said. Follow the above advice and make sure to complain to your AG and let them know that you are doing so.

They may also tell you that they will "investigate" your application for any lies. That is probably similiar to their "verification" process. It's all bull.

Thank you so much you guys are so helpful. So I typed up a letter that I am sending to them (actually I stole it from another forum). Please let me know what you think before I send it off.


P.S Does anyone know their physical address.

I think it sounds good. My only suggestion would be to change this part:

Quote:

So I faxed the letter to Sharon Williams this morning. I just received a call from her stating basically stating that she did not have to abide by anything that was stated in my letter. She basically starting screaming at me telling me that I did not borrow money from the state of Texas so therefore they do not have to abide by Texas state laws. I told her that as stated in my letter, I have every intention of paying the 250.00 plus any legal interest payments. She basically started screaming at me telling me that I owed 430.00 for fees that were accured on the account. I told her that I wanted a breakdown statement of what exactly all the "fees" were. She told me to look at my bank statement because they were all for returned items. I asked her why they were still debiting my account when I sent them a letter revoking my authorization to debit my account. She told me that they don't need my authorization and that all they have to do is show my bank the original contract and then they can continue to debt my account. So I told her not to contact me at work and she said she would continue to contact me at work as many times as she wanted. GRRRRRRR i am so frusturated. I hung up on her and then she called me right back at work and gave me a lecture on how I should not have hung up on her and then she hung up on me!!!!! GGRRRRR What should I do now!

Daisy,this is why you must involve your attorney general in these matters. You are just a debtor to them,basically a pion in their eyes. An Attorney General swings a mighty big club and no one in the business world likes to anger them. Go ahead and ignore the twit at the pdl office and file your complaint with the AG office detailing everything that has happened including the phonecall where she says they don't need permission to go in your money.

Make sure that you forward the information about your conversation with her to your attorney general. It is highly illegal to contact someone at work when they have told you not to. I would send them another letter and in the meantime can you stop taking her calls? Also send a copy of the letter by email and certified mail. You do not have to take her abusive phone calls and if you cannot avoid answering the phone at work, I would simply tell her, "I cannot accept these phone calls at work and it is illegal for you to continue contacting me after I have told you this." Then hang up.

Daisy, I did a search on the forum and I found this address for them. I can't guarantee it is correct but it is from a recent post.

Westbury Ventures
2756 N. Green Valley Parkway Ste 870
Henderson, NV 89014-2120

I did send the letter through email, fax and certified mail. And I just finished filing the report to the Attorney Generals office online. I forwarded a copy of the original letter that I sent her to the AG. Thanks for your help.

Also does anyone know how long it takes for them to contact the company once you file a report with AG?

Good job!!! Good luck and let us know where it goes from here. That is the only way we are going to stop these places, if we all keep filing our complaints. One day these companies will realize that we are no longer going to tolerate their illegal practices and lies.

For every 1 educated consumer, there are about 500 uneducated ones.... These companies aren't going to stop taking advantage of the desperate...Hopefully we'll be able to educate folks about these companies and prevent them from doing business. They aren't just going to stop!

Why didn't you call the company, they do offer settlements based on payments made and alternate arrangements. If you don't call then they aren't aware of the problem before hand and they sell your debt. Once they sell it someone else is in control of collecting it.
Arrowhead Investment

866-355-7308

I was able to get my account marked paid in full -- this woman is the same woman who threatened me and was very rude; however, once they found out that I contracted my state's AG, they started moving very quickly to take care of my account. Just stay with in. They will cave and do the right thing with your overpaid account.

The best,
Sarah

They finally caved in immediately with me too once they found out I filed a complaint with the AG. I can't discuss the terms pursuant to the agreement but it was what I had asked for all along. Unfortunately it has to get to this point. They would not help me out or work with me at all until it came to the point that I filed a complaint.

Hey guest, if you read above, the poster did contact them by letter, fax, and email. Apparently they wanted to deal in written communication only in which I cannot blame them. This company has told me one thing on the phone and then the next day harassing me for a total different amount. If these companies would be honest it would not be a problem to speak to them on the phone but when they are going to lie and use illegal tactics to make people pay then everyone should only communicate with them in writing, otherwise they do not have a leg to stand on. When you talk to them on the phone it is your word against theirs and I guarantee you that they are told there is a problem in the written communication so yes they do know there is a problem, they just refuse to listen.

Yes, written communication is best.

We always tell the posters to go with their state Attorney General or their dept of Financial Institutions.From past experiences with these companies,our posters have had major problems with these type of companies since they seem to believe they are above the law. I too cannot say all that I know without violating confidence of certain members.

Can someone help me find the process of filing a complaint with the AG office of Florida?

Bublefan1,go to www.myfloridalegal.com . Look for consumer link and file online complaint there.

Hi, A while ago, I took out a loan from Aarowhead Investments. I know it is paid in full, however, I am double checking my checking account records. But then all of a sudden a Ronald Renyolds from LTS Management and said that on my bank account it would appear as Westbury Ventures. In the meantime I closed the account for other reasons. He will not stop e-mailing. Today I asked him to tell me how much I actually owe, this was his response: "No???????Are you serious! You think your going to lie to me for the fourth time. Do you not know that immediate action will be taken against you for defrauding this company in excess of $3679. So, too bad. This is what was recently sent to your employer etc. Your time has expired."
So I asked him for the number to his superfisor and he stated "You may have the number to the county of New Castle DE, Cecil MD, St Lawrence NY and Essex NJ, So you can confess and make your statement to them of defrauding this company. And they are aware of both names you are using (Childs & Lorenzo). And can you read below of my position with this company. So, if you need anything you need to call me."
Each of the areas he mentioned are places where I lived before, which I didn't put on the application as it didn't ask. Also, I was married, that's where Lorenzo comes from, but I have been divorced for 5 years and haven't used that name either.
I live in Delaware and the original loan amount was $250. Can you tell me what their status is in Delaware, for instance are they licensed in Delaware.
Thank you.

I'm not sure how this works, but my email is email address removed as per forum rules - Mike thanks again.